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MRT 2 · Fixed Interest Rate Mortgages
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Fixed Interest Rate Mortgages
How a fixed rate works, the role of ERCs, and when fixed rates are suitable.
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Key points
Question 3
Which term matches: "reverts to lender’s SVR (or client remortgages)"
Question 4
What does "Benefits" mean?
Question 5
Match each term in "Key points" to its meaning
Tap a term, then tap its matching definition.
Question 6
Fill in the blank
______ — Cannot benefit from rate falls; Early Repayment Charges (ERCs) usually apply during fixed period
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What the exam tests
How a fixed rate works, the role of ERCs, and when fixed rates are suitable.
Question 8
True or false?
How a fixed rate works, the role of ERCs, and when fixed rates are suitable